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International Monetary Fund. External Relations Dept.
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
International Monetary Fund. External Relations Dept.
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
International Monetary Fund. External Relations Dept.
This paper highlights that the current round of trade talks under the auspices of the World Trade Organization aims at better integrating developing countries—especially the small and poor ones—into the global trading system. For that reason, it was named the Doha Development Agenda when it was launched in late 2001. However, more than three years on, little progress has been made. It took a late July 2004 accord outlining “negotiating frameworks” in agriculture and industrial products just to keep the talks afloat.
International Monetary Fund. External Relations Dept.
This paper highlights that the first quarter of 1981 was marked by a number of notable accomplishments in meeting the challenges currently facing the IMF. In addition to the completion of the final loan disbursements from the Trust Fund, the simplification of the SDR basket, and the decision to continue enlarged access to the IMF’s resources, the IMF reached agreement in principle with Saudi Arabia on a quota increase and on an arrangement to borrow resources to permit the IMF to continue its lending operations without interruption and for the smooth functioning of the recycling process.
International Monetary Fund
This paper presents updated and revised estimates for the World Trade Model. The model estimates import and export price and volume relationships for each of three types of merchandise trade--manufactured, raw material, and agricultural--for 14 of the largest industrial countries. The extended data set has generally resulted in estimated price and volume equations that fit the data better than previous versions of the model. In addition, the simulation properties of the model have been enhanced by imposing long-run activity elasticities of unity on the activity terms in the demand for imported manufactures equations.
Nicoletta Batini, Ian Parry, and Mr. Philippe Wingender
Denmark has a highly ambitious goal of reducing greenhouse gas emissions 70 percent below 1990 levels by 2030. While there is general agreement that carbon pricing should be the centerpiece of Denmark’s mitigation strategy, pricing needs to be effective, address equity and leakage concerns, and be reinforced by additional measures at the sectoral level. The strategy Denmark develops can be a good prototype for others to follow. This paper discusses mechanisms to scale up domestic carbon pricing, compensate households, and possibly combine pricing with a border carbon adjustment. It also recommends the use of revenue-neutral feebate schemes to strengthen mitigation incentives, particularly for transportation and agriculture, fisheries and forestry, though these schemes could also be applied more widely.
Andrew M. Kamarck and Arthur J. Dommen

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.